NextDecade (NASDAQ:NEXT) Posts Earnings Results, Beats Expectations By $0.43 EPS

NextDecade (NASDAQ:NEXT) announced its quarterly earnings results on Monday. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.43, FiscalAI reports.

NextDecade Stock Performance

Shares of NEXT opened at $5.39 on Monday. The firm has a market capitalization of $1.43 billion, a P/E ratio of -7.38 and a beta of 2.02. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.64 and a quick ratio of 0.64. NextDecade has a one year low of $4.75 and a one year high of $12.12. The business has a fifty day moving average of $5.24 and a 200 day moving average of $6.42.

Insider Transactions at NextDecade

In other news, major shareholder Aerospace Co. Ltd. Hanwha purchased 851,971 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was acquired at an average cost of $5.83 per share, for a total transaction of $4,966,990.93. Following the purchase, the insider directly owned 25,620,222 shares in the company, valued at $149,365,894.26. This trade represents a 3.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 3,532,496 shares of company stock valued at $20,893,914 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On NextDecade

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. boosted its holdings in NextDecade by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 122,020 shares of the company’s stock worth $829,000 after buying an additional 1,800 shares during the period. Comerica Bank grew its position in shares of NextDecade by 88.0% during the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after purchasing an additional 1,900 shares in the last quarter. Captrust Financial Advisors raised its stake in NextDecade by 6.2% during the 2nd quarter. Captrust Financial Advisors now owns 55,444 shares of the company’s stock valued at $494,000 after purchasing an additional 3,219 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in NextDecade by 111.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 7,201 shares of the company’s stock worth $38,000 after purchasing an additional 3,792 shares in the last quarter. Finally, US Bancorp DE boosted its stake in NextDecade by 22,782.4% in the 3rd quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after purchasing an additional 3,873 shares during the period. Hedge funds and other institutional investors own 66.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on NEXT. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Morgan Stanley lowered their price target on NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Finally, Capital One Financial assumed coverage on NextDecade in a report on Friday, February 6th. They issued an “overweight” rating and a $7.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.00.

NextDecade Company Profile

NextDecade Corporation is a Houston‐based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large‐scale LNG export facilities. The company’s core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade’s projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low‐carbon fuel.

NextDecade’s flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.